PicPay is a payment application that allows you to make financial transactions within the platform without paying additional fees using the credit card of other conventional banks. The tool has become not only a technique for facilitating payments between friends but also making money online just by recommending the app.
The application has gained a very informal character by being modeled as a social network. In PicPay app you can share your payments with friends and comment on the values sent by someone, for example.
How about speaking of money everyone gets a foot behind better knowing the tool well before depositing money and making moves within the right app? Here you get a complete review of the main functions and performance of this payments app.
PicPay Key Features
The payments app allows you to have an open profile or not, so you can keep your transactions confidential, just choose the “private” option.
In PicPay you will not find some conventional banking options such as the possibility of making investments, for example. Here's what d to do with the app:
- Recognizes QR Code for payments;
- Allows the shopkeeper to register to receive payments;
- Receive payments through the application;
- Uses the app camera to add the credit card;
- Integrates with all major social networks, Facebook, Twitter, WhatsApp to call friends;
- Transfer values to others from your card;
- Transfer money from your PicPay balance to your account;
- Allows you to make payments directly with the PicPay balance;
- Serves to make payments also in physical stores, in the Places tab you know who gets the app near you.
How to register on PicPay?
You need to download the PicPay app from Google Play or iTunes, create an account, and set a profile. There are two types of profiles available, you can be a consumer or an establishment. The layout of the two is different, making it easy for both the payee and the payer.
Because of this profile that people will identify you with, it will be your PicPay identity, it will be her who will locate you to send money. At the beginning you will be asked for various personal information including bank information, you can trust the app.
To make a payment you only need to link a credit card to your wallet, cards from all brands are accepted, and you can even use virtual account cards (even if they are prepaid) as long as they have balance, you will have to use for payments.
When you receive a payment, you can choose to leave the amount in the app and use it for other purchases or transfers within PicPay or ask for the money to be sent to your bank account.
Advantages and disadvantages of PicPay
Like any application, PicPay has advantages and disadvantages that must be taken into account before adhering to use.
Among the advantages we have:
- Fast payments and no paperwork;
- Locating nearby merchants that accept the payment method;
- available for iPhone and Android;
- Registration is simple and does not ask for much data;
- Application size less than 80 mb;
- Allows the account to link your debit and credit card;
- If there is no balance you know, the information system also informs the transaction history;
- Ease of use, uncomplicated and intuitive layout
- Be able to make financial transactions without having to carry cash in your pocket
- Payment between friends without paying fees between banks
- There are no fees or extra fees for using the services.
In the end the app turned out to be a good option for paying debts between friends or paying someone who requires less informality, such as a music class or service. However, for large commercial establishments they still offer little structure for the network to grow properly and gain its space in their mobile transaction business.
And among the disadvantages we can mention:
- Few business establishments accept the form of payment;
- It has not won much public, raising just over 100,000 registered users today,
- Registration does not need many details, giving rise to false profiles;
- It takes time to receive the money when the transfer to the bank can take up to 48 hours;
- A charge of R $ 4.95% on the value of each sale in case of transfers made by merchants, even lower than traditional maquinhas
- You don't have it for Windows Phone yet.
How to make money with PicPay
The mobile payments platform has become popular not so much because of the possibility of informable transactions via smarpthone, but mainly because of user strategies to make money without investing $ 1.00.
It turns out that for every user who downloads the Picpay app the tool gives him a free $ 10.00 balance. You can use this unique promotional code (only received once for each person) by sending an invitation to a friend.
When your friend accepts the request he should send you the $ 10.00 again as a thank you. The more invitations you send the more $ 10.00 you will receive, so you can slowly and patiently create a small amount that can be withdrawn if problems arise.
Remember that PicPay has no physical card, just your digital account. In order to be able to withdraw the money you have accumulated you need to make a free transfer to your debit or savings account at the conventional bank where you have an open checking account.
App Hazards
Due to the possibility of making money from the app, PicPay became in 2017 a platform for financial fraud. As the app asks for little information about merchants or allows anyone to link to third party cards facilitates the creation of fake profiles.
So these fictional profiles promised double the money back for invitations made. After the deal was done they did not end up depositing the money and leaving the victim at a disadvantage.
Picpay's popularization of its vulnerability eventually demoralized the startup and is now even more preferred among commercial establishments or new users.
User rating
PicPay divides opinions between those who download and use the app. Most users have the Android version, there are those who like the practicality, and most of the 5 star ratings. So much so that of the nearly 50,000 ratings, only about 5,000 of a single star.
However, there are many scams related to donation requests that one user can do to another by moving the activation bonus. This bonus is the $ 10.00 the app pays for new users.s, and has been negotiated, giving rise to scams.
Some complain about accounts that have been suspended without notice, and the difficulty of redeeming the balance, even if there are no problems with their accounts. However, most user comments leave their activation codes asking others to sign up and donate part of the bonus to them.
Among those who use the app and like it are more than 30,000 people who rated the app five stars on Google Play, and nearly 2,000 5 star ratings on iTunes.
Download Pic Pay on Google Play | Download PicPay from Apple Store
5 Things You Need to Know About PicPay
- The company has been active since 2013, but soon gained space on social networks and app stores, that's when she started giving money to those who signed up and took a friend with her.
- The go-in with an invite and give me a few bucks has gained so much that in just over two months the app came out of the dark and was among the most downloaded on Google Play.
- As the movement grew, complaints grew, but the Complain Here site said that PicPay did a good job, because it moved out of regular rankings to the point of resolving most customer issues
- When you create a profile it becomes public, and people who follow you can see how much you earn and spend on the app, including on Facebook. To change this, I need to change the Settings on your profile, go to Setup and change the KeyPrivacy
- With the wave of scams asking for donation with the phrase donate and paid you double PicPay is thinking of putting up buttons that help users report fake profiles. And the company guarantees that will reimburse all users who are injured with the application. Worth seeing.
This fintech market is still new in the country, and a lot needs to change. The level of security has to be improved, with more accurate entries and details, to prevent fraud and the companies involved being discredited.
